Moog Clocks 2% Sales Growth In Q4, Tops Consensus

Moog Inc (NYSE: MOG-A) reported fourth-quarter sales growth of 2% year-over-year to $724.3 million, beating the consensus of $690.2 million. The consolidated 12-month backlog improved 24% to $2.1 billion.
Sales by segments: Aircraft Controls $297.97 million (+8.4% Y/Y), Space and Defense Controls $200.02 million (-3.2% Y/Y), and Industrial Systems $226.29 million (+0.6% Y/Y).
GAAP EPS of $1.07, up 32%, included $0.18 of one-time adjustments.
The gross margin expanded by 261 bps to 27%. The operating income increased by 44.5% Y/Y to $62.72 million, and the margin expanded by 260 bps to 8.7%.
Moog generated cash from operating activities for the year of $293.23 million, compared to $279.18 million a year ago.
FY22 Outlook: Moog expects Sales of $3 billion, above the consensus of $2.95 billion. It sees EPS of $5.30 - $5.70, against the consensus of $5.52.
It expects operating margins of 10.3% and cash flow from operating activities of $338 million.
Price Action: MOG.A shares are trading higher by 5.98% at $82.69 on the last check Friday.

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